Business at the Kwik-E-Mart Is Brisk, with One Customer Arriving

question 47

Multiple Choice

Business at the Kwik-E-Mart is brisk, with one customer arriving at a rate of six per hour on average. Ringing up purchases is an easy matter for owner/operator Apu; he can usually do so in 2 minutes. If both arrival and service rates are Poisson distributed, how many customers are in the store on average?

• A)0.05
• B)0.16
• C)0.25
• D)0.50

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Definitions:

Research

The systematic investigation into and study of materials and sources to establish facts and reach new conclusions.

Standard Deviation

A statistical measure of the dispersion or variability of a set of numbers, showing how much variation exists from the average.

Risk-averse

Describes individuals or entities that prefer to avoid risk and would rather settle for a less uncertain outcome than a potentially higher but risky return.

Expected Income

The amount of money an individual or entity anticipates to receive over a certain period, often based on current or past earnings.